Deals and IPOs

Peltz prodded Mondelez on D.E. Master deal: Source

Talks between Mondelez and the coffee company D.E. Master Blenders began well before investor Nelson Peltz joined Mondelez's board, a source told CNBC, but the billionaire's fingerprints were all over the transaction.

Earlier Wednesday, Mondelez and D.E. Master Blenders said they would combine their coffee businesses into a new venture with $7 billion in annual revenue.

Mondelez, D.E. Master Blenders to merge coffee biz

Trian, which owns more than 41 million shares of Mondelez, had been urging the company, which split from Kraft in 2012, to streamline its business and focus mostly on snacks.

According to a source, Mondelez's board wasn't 100% behind such a deal—and even considered other options—before getting behind the joint venture with Peltz's prodding.

Trian had no comment.

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